Kredivo is a Singapore-headquartered fintech.

Kredivo, a company that provides buy now, pay later and credit services to individuals with limited access to banking in Indonesia and Vietnam, has successfully raised $270 million in a Series D funding round.

The funding round was led by Mizuho Bank from Japan, a subsidiary of Mizuho Financial Group (TYO: 8411), with participation from existing top tier investors such as Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners, and Openspace Ventures, among others.

Kredivo, previously known as FinAccel, has now raised about $400 million in equity and has also committed debt facilities of nearly $1 billion to expand its loan book. (Fintech Futures)

The firm decided against going public in a $2.5 billion Spac deal last year due to unfavorable market conditions. The new funding will be used to support the company’s current business model of digital payments and credit services and to finance the launch of its neobank, Kroo.

Akshay Garg, CEO of Kredivo Holdings, said: “Despite challenging market conditions, investors continue to recognize the scale and strength of our business, and our innovation potential. The upcoming expansion into digital banking is deeply synergistic with the existing Kredivo product and also opens up a very promising channel for us to become the digital financial services platform of choice for tens of millions of consumers in Southeast Asia.”

According to Tech Crunch, has now raised a total of about $400 million in equity. In addition, it has in place financing facilities of almost $1 billion for its loans business.

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